Comments on: Nikon Says “Sayonora” to 1000 Contract/Temp Workers http://www.nikonwatch.com/2009/05/29/nikon-says-sayonora-to-1000-contracttemp-workers/ Helping you figure out WTF Nikon's doing... D700x? D4? Rangefinder? Mon, 05 Oct 2009 23:35:15 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: matt http://www.nikonwatch.com/2009/05/29/nikon-says-sayonora-to-1000-contracttemp-workers/comment-page-1/#comment-1028 matt Sun, 31 May 2009 21:02:32 +0000 http://www.nikonwatch.com/?p=1161#comment-1028 >‘Auf wiedersehen’ Good one! Zoetmb: yes, agree >‘Auf wiedersehen’

Good one!

Zoetmb: yes, agree

]]> By: sologrande http://www.nikonwatch.com/2009/05/29/nikon-says-sayonora-to-1000-contracttemp-workers/comment-page-1/#comment-1027 sologrande Fri, 29 May 2009 23:20:33 +0000 http://www.nikonwatch.com/?p=1161#comment-1027 At least they didn't say 'Auf wiedersehen' -- that would have confused the workers too much. At least they didn’t say ‘Auf wiedersehen’ — that would have confused the workers too much.

]]> By: zoetmb http://www.nikonwatch.com/2009/05/29/nikon-says-sayonora-to-1000-contracttemp-workers/comment-page-1/#comment-1026 zoetmb Fri, 29 May 2009 23:00:34 +0000 http://www.nikonwatch.com/?p=1161#comment-1026 Yes..Nikon is having financial problems, but it is mainly businesses other than the photo business that are having problems. Considering the economy, Nikon Imaging actually did pretty well for the fiscal year ending March 09: In terms of units, they beat the previous fiscal year by 6.8% in DSLR bodies, 17% in the Coolpix line and 3.4% in DSLR lenses. From a unit standpoint, it was a record year for all three categories. In Yen, revenue was up 1.8%, but profits were down 52.3%, but this beat their last projection, which was down 2.8% in revenue and 58.3% in profit. Some of the profit decline was due to declining margin associated with currency conversion. That's why we saw the price increases. As recently as 2007, the dollar was over 120 yen, but it was 114 for fiscal 2008 and only 101 for fiscal 2009. Nikon is projecting fiscal 2010 to come in at only 95 yen to the dollar. But that certainly doesn't account for all of the profit decline and that's why Nikon needs to cut costs. In fiscal 2008, Nikon netted almost $84 billion yen. For fiscal 2009, it was down to 40 billion yen. For fiscal 2010, they're projecting 25 billion yen net income for the imaging group, but Nikon always beats their estimates by a fairly wide margin. Yes..Nikon is having financial problems, but it is mainly businesses other than the photo business that are having problems. Considering the economy, Nikon Imaging actually did pretty well for the fiscal year ending March 09:
In terms of units, they beat the previous fiscal year by 6.8% in DSLR bodies, 17% in the Coolpix line and 3.4% in DSLR lenses. From a unit standpoint, it was a record year for all three categories. In Yen, revenue was up 1.8%, but profits were down 52.3%, but this beat their last projection, which was down 2.8% in revenue and 58.3% in profit.

Some of the profit decline was due to declining margin associated with currency conversion. That’s why we saw the price increases. As recently as 2007, the dollar was over 120 yen, but it was 114 for fiscal 2008 and only 101 for fiscal 2009. Nikon is projecting fiscal 2010 to come in at only 95 yen to the dollar.

But that certainly doesn’t account for all of the profit decline and that’s why Nikon needs to cut costs. In fiscal 2008, Nikon netted almost $84 billion yen. For fiscal 2009, it was down to 40 billion yen. For fiscal 2010, they’re projecting 25 billion yen net income for the imaging group, but Nikon always beats their estimates by a fairly wide margin.

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